03.05.2011
Deutsche Bank vows fight against US lawsuit
"The suit is unfounded and we intend to defend ourselves vigorously against this action," a bank spokesman told AFP.
He declined to comment further.
According to a statement issued by US federal prosecutor Preet Bharara, US authorities have filed a lawsuit against Deutsche Bank for having obtained government insurance for substandard mortgages during the US housing boom.
Deutsche Bank and subsidiary MortgageIT "repeatedly lied to be included in a government program to select mortgages for insurance by the government," said the Justice Department complaint, filed in New York federal district court.
"While Deutsche Bank and MortgageIT profited from the resale of these government-insured mortgages, thousands of American homeowners have faced default and eviction, and the government has paid hundreds of millions of dollars in insurance claims, with hundreds of millions of dollars more expected in the future," it said.
In late trading on the Frankfurt stock exchange, shares in Deutsche Bank showed a loss of 2.21 percent at 43.22 euros, while the DAX index on which they are listed was 0.49 percent lower overall.
18:03 | Lien permanent | Commentaires (0) | Envoyer cette note | Tags : bezalles, islam, associations, depannage, meudon
China, Japan, South Korea wary of inflation risk: draft
In the draft prepared for a meeting set for Wednesday, the ministers said the region has been resilient after weathering the global financial crisis due to robust domestic demand and buoyant exports, but said appropriate policies and better coordination were needed.
"There are also uncertainties such as the turmoil in the Middle East and North Africa region, and the aftermath of the earthquake in Japan," it said.
"We will continue to implement appropriate macroeconomic policies and strengthen policy cooperation to achieve strong, sustainable and balanced economic growth of the three countries."
The draft statement is subject to final revisions in negotiations among the three countries ahead of the meeting.
The ministers of the three heavyweight Asian economies will also meet on Wednesday with their counterparts from the 10-member Association of Southeast Asian Nations (ASEAN) at the Asian Development Bank's annual meeting in Hanoi.
The draft statement emphasized the importance of improving financial integration and cooperation in the region with the launch of the ASEAN+3 Macroeconomic and Research Office (AMRO).
"We shared the view that strengthening AMRO's surveillance function is the most effective tool to prevent a financial crisis in the region and a key element to avoid moral hazard," the draft said.
Chinese media have reported the first head of the new office would be Wei Benhua, a former deputy head of China's foreign exchange regulator.
The three ministers also agreed to enhance financial cooperation in the region by working together to improve the Asian Bond Markets Initiative (ABMI).
Working with ASEAN, the group also wants to strengthen regional financial ties and systems to avert the repeat of the 1997-1998 Asian Financial crisis.
One measure, the Chiang Mai Initiative, a fund that can be used by members to defend their currencies in a crisis, was expanded to $120 billion in 2010 from the initial $80 billion.
(Reporting by Aileen Wang; Editing by John Mair and John Ruwitch)
16:13 | Lien permanent | Commentaires (0) | Envoyer cette note | Tags : villepinte, jean, 78410, dessert, jolie
Rahm Emanuel Ready to Choose Police Superintendent to Battle Chicago Crime
Although the Chicago Police Board has chosen the three finalists down from a larger list, mayor-elect Rahm Emanuel will get the final say. Aside from that, Emanuel has the chance to interview the three and has said he wants to make the decision before his inauguration in mid-May. If Emanuel isn't happy with the choices on the list, he can also ask the Chicago Police Board to open up a new search with new candidates on the final list.
is 60 crimes per 1,000 residents, making it safer than only 9 percent of the cities in the U.S. In comparison, , with only 30 crimes per 1,000 residents. Eventhan Chicago too with 59 crimes per 1,000 residents.
Emanuel has already begun appointing new members for Chicago's top positions. He announced that Jean-Claude Brizard , despite controversy over Brizard's work as top school official in Rochester, NY. Emanuel also announced thatas president, even though Claypool has no prior experience with transportation.
Rachel Krech provides an in-depth look at current environmental issues and local Chicago news stories. As a college student from the Chicago suburbs pursuing an environmental science and biology degree, she applies her knowledge and passion to both topics to garner further public awareness.
15:24 | Lien permanent | Commentaires (0) | Envoyer cette note | Tags : poids, bayrou, 78870, michel, spiroudome